How can I generate maximum income with my savings of 20 Lakhs and build wealth for future needs

I am 45 years old with family member of three, my daughters age is 4 years. I got Rs. 20 lac with no other income. Please suggest how I can generate maximum income with this money as well as I can build my wealth for future needs. I will be very helpful for your reply?

To answer your query well we need to know certain things – 1) your risk profile, meaning how much risk you can take to get maximum return from your savings of Rs. 20 Lakhs 2) what is your return expectation 3) Do you want the returns on a monthly basis or you want to remain invested for the long term and create wealth 4) What are your short term and long term financial goals?

Once you can let us know these, we will be in a better position to answer your query.